Organizations fighting U.S. debt get support of AICPA board


A continuing devotion to fiscal responsibility has led to a resolution by the AICPA board of directors supporting two nonpartisan organizations devoted to combating the U.S. federal debt.

In the resolution, the AICPA expresses support for the Campaign to Fix the Debt and the Comeback America Initiative, which express concern over the federal debt’s impact on the nation’s long-term fiscal health. The resolution is available at tinyurl.com/d2rbsqz.

The AICPA, which believes the U.S. government should operate on a sustainable budget and address its current debt crisis, will encourage state CPA societies to consider getting involved in the efforts and promoting fiscal responsibility, according to the resolution, which the board adopted on Nov. 9.

In addition, the resolution says, the AICPA will continue to seek ways to advocate for reduced complexity for American businesses and individuals.

The resolution reinforces a message the AICPA already has been sending. Greg Anton, the 2011–12 chairman of the AICPA board of directors, described the debt the United States has accumulated and the consequences it could have for the future of the nation in a video, “What’s at Stake,” which is available at tinyurl.com/b4hmave.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

News quiz: Taking an economic snapshot and looking to the future

Recent news included IRS actions that affect individuals and partnerships and a possibly influential move by a Big Four accounting firm.Take this short quiz to see how much you know about the news.